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Itron Inc. (NASDAQ: ITRI) is a leading technology company that enables utilities and cities to safely, securely, and reliably deliver critical infrastructure services. Itron operates globally, serving communities in over 100 countries, and offers a comprehensive portfolio that includes smart networks, software, services, meters, and sensors.
The company manages and reports through three primary operating segments:
- Device Solutions: This segment includes hardware products used for measurement, control, or sensing. These devices do not have embedded communication capabilities, making them essential standalone tools within the broader Itron systems.
- Networked Solutions: This segment provides integrated solutions combining communicating devices, network infrastructure, and application software. These products are designed and sold as complete systems, offering robust capabilities for monitoring and managing energy and water resources.
- Outcomes: This segment delivers value-added software and services that enhance decision-making and operational efficiency. The solutions offered in this segment help utilities and cities analyze and interpret data to optimize their operations and profitability.
Recently, Itron has been focusing on innovative projects such as the Pipe Asset Management Software, which helps utilities make informed decisions about the replacement and maintenance of water pipes. By leveraging data from various sources including GIS, historical failure data, and advanced metering infrastructure, this tool uses AI to identify pipes that are at risk of failure. The software also supports lead pipe inventory replacement, ensuring the safe delivery of drinking water.
With its commitment to innovation and sustainability, Itron aims to improve the quality of life by safeguarding natural resources and enhancing the efficiency of critical infrastructure services. For more information, visit their official website at www.itron.com.
Itron (NASDAQ: ITRI) announced a collaboration with Cielis to manage nearly 200,000 smart streetlights in Paris for the next 10 years. The project, utilizing Itron's CityEdge portfolio, aims to reduce energy usage by 30% and improve streetlight performance. The system will enable remote control and programming of streetlights, synchronize traffic lights to optimize traffic patterns, and reduce carbon emissions. This extends Itron's relationship with Paris that began in 2015 with the city's initial IoT network investment. The solution builds on Itron's global presence of 270 million IoT endpoints across 8,000 customers in over 100 countries.
Itron (NASDAQ: ITRI) reported strong Q3 2024 financial results with revenue increasing 10% to $615 million. Gross profit rose 12% to $210 million, while GAAP net income reached $78 million, up $38 million year-over-year. GAAP diluted EPS increased by $0.83 to $1.70, and non-GAAP diluted EPS grew by $0.86 to $1.84. The company's adjusted EBITDA improved 29% to $89 million, with free cash flow up $30 million to $59 million.
All business segments showed growth: Device Solutions revenue up 11%, Networked Solutions up 8%, and Outcomes up 17%. The company updated its full-year 2024 guidance, projecting revenue between $2.428-$2.438 billion and non-GAAP diluted EPS of $5.28-$5.38.
Itron (NASDAQ: ITRI) has unveiled its CityEdge portfolio, a comprehensive IoT solution addressing modern city challenges across five key areas: smart lighting, traffic and highways, environment and sustainability, public safety, and energy/water utilities. The portfolio builds on Itron's experience managing over 4 million lights globally and serves over 8,000 customers across 100+ countries with 270 million IoT endpoints deployed. CityEdge offers real-time monitoring and control capabilities for street lighting, traffic conditions, environmental metrics, and safety-related events through a unified platform with multi-transport networking and intelligent connectivity.
Itron (NASDAQ: ITRI) has announced its participation in two upcoming investor conferences. The company will attend the Baird Global Industrial Conference in Chicago on November 12, 2024, where Joan Hooper, SVP and CFO, will engage in a fireside chat and investor meetings. Additionally, John Marcolini, SVP for Networked Solutions, will participate in similar activities at the Stephens Annual Investment Conference in Nashville on November 20, 2024.
Itron, Inc. (NASDAQ: ITRI), a company innovating in energy and water management for utilities and cities, has announced the release of its third quarter 2024 financial results. The results will be disclosed on Thursday, October 31, 2024, before the market opens. Itron will publish its press release and financial statements on its investor relations website at 8:30 a.m. EDT.
A management conference call is scheduled for 10 a.m. EDT on the same day to discuss the results. Interested parties can access a live webcast of the call, along with a supplemental presentation, from Itron's website. Participants are advised to access the webcast 10 minutes before the call starts. A replay of the webcast will be available until November 8, 2024.
Itron (NASDAQ: ITRI) has unveiled its Grid Edge Essentials solution, a pre-integrated, real-time system designed to address foundational issues at the grid edge and accelerate the energy transition. This solution provides unprecedented distribution grid visibility and enhances consumer engagement.
Key features of Grid Edge Essentials include:
- High-resolution data from every endpoint at the edge of a utility's distribution network
- Potential to enhance grid capacity by up to 20% through asset optimization
- Real-time visibility and control of distributed energy resources
- Accurate meter-to-phase, transformer, and feeder mapping
- Improved load disaggregation and near real-time insights for consumers
- DataHub for secure API access to curated data products
- Open ecosystem for third-party application development
The solution will be available in North America for IOUs in December 2024, with configurations for international markets, cooperative, and large municipal utilities following in 2025.
Itron's 2024 Resourcefulness Insight Report reveals the critical role of AI and machine learning in addressing utility challenges. Key findings from 600 utility executives across six countries show:
- 86% of utilities identify AI/ML as important for operational challenges
- 82% of utilities are adopting AI/ML
- Top AI/ML use cases: enhancing safety (49%), cyberthreat detection (34%), predictive maintenance (33%)
- Main barriers: lack of expertise (43%), high costs (41%), data infrastructure issues (40%)
The report highlights the strategic importance of grid edge intelligence for greater insight and control across distribution networks. Utilities are facing unprecedented demand growth, driven by data centers (40%), new construction (32%), and sustainability initiatives (31%). Top investment priorities include DERMS (26%), sensors (23%), and consumer engagement tools (22%).
Itron, Inc. (NASDAQ: ITRI) has announced the conference schedule for Itron Inspire 2024, set to take place in Palm Desert, CA, from Oct. 4-10, 2024. This flagship event will bring together industry leaders to address pressing utility challenges and explore innovative solutions in energy, water, IIoT, and smart cities.
The main Knowledge Conference (Oct. 6-8) will feature inspiring keynotes, networking events, over 75 breakout sessions, and a showcase of Itron's integrated solutions. Key highlights include:
- Keynotes from industry leaders and Itron executives
- Presentation of the 2024 Itron Resourcefulness Insight Report
- Women Who Inspire panel discussion
- Big Picture Sessions on grid edge intelligence and sustainability
- Breakout sessions covering various tracks such as Applications, Outcomes & Services, Data Management, and Multi-Purpose Network Solutions
Itron, Inc. (NASDAQ: ITRI) reported strong second quarter 2024 financial results, with revenue increasing 13% to $609 million. Key highlights include:
- GAAP net income of $51 million, up $27 million
- GAAP diluted EPS of $1.10, up $0.57 per share
- Non-GAAP diluted EPS of $1.21, up $0.56 per share
- Adjusted EBITDA of $77 million, up 56%
- Free cash flow of $45 million, up $9 million
The company saw record revenue in Networked Solutions and Outcomes segments. Itron updated its full-year 2024 guidance, projecting revenue between $2.385 to $2.415 billion and non-GAAP diluted EPS between $4.45 to $4.65.
Itron (NASDAQ: ITRI) has announced a call for nominations for the 2024 Itron Innovator Award, recognizing utility or city customers who have implemented cutting-edge solutions using Itron's Technology Partner Enablement Program. The award aims to highlight projects that address energy or water challenges or contribute to creating a more resourceful world. Nominations are open until September 6, 2024, and the winner will be announced at Itron Inspire 2024.
Eligible projects must be piloted, deployed, or have quantifiable outcomes, and integrate successfully with Itron's solutions. The 2023 winner, Tampa Electric Company, was recognized for its Smart Cities and Load Management programs. Itron collaborates with over 200 global partners to enhance its solutions and customer experience, enabling cities and utilities to address critical challenges in energy, water, and smart city management.
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